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No horsing around: Powerful PE firm snaps up Daily Racing Form

Published 07/26/2017, 11:42 AM
© Reuters.  No horsing around: Powerful PE firm snaps up Daily Racing Form
WYNN
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MGM
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IGT
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CHDN
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PNK
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BYD
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CZR
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PENN
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BJK
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ERI
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  • Private equity firm Z Capital Partners picks up the Daily Racing Form through the acquisition of the horse racing publication's parent company.
  • "Obviously attendance at tracks have declined, but the amount of online wagering has increased a bit. And the amount of advanced deposit wagering has been growing at between 15% to 20% per year," Z Capital's Jim Zenni tells Axios.
  • Yesterday, Zenni told Bloomberg that the purchase of the Daily Racing Form is a bet on sports gambling. The company plans to digitize the print side of the DRF business.
  • In a broader contect, the deal is another indication that forces are aligning to promote sports gambling in the U.S.
  • Related stocks: CHDN, IGT, MGM, WYNN, ERI, BYD, PENN, PNK, CZR.
  • Related ETF: BJK.
  • Now read: Gambling: A State Of The World Report


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